Littleton Company Producing More Secure Credit Cards
LITTLETON, Colo. (CBS4) – Massive credit card security breaches have companies working to offer consumers cards with more protection and one of those is CPI in Littleton.
At CPI headquarters there are machines that can produce 5,000 credit cards per hour, 24 hours a day, and seven days a week.
Common credit cards that most people carry have a magnetic strip and number.
CPI’s cards have encrypted chips inside and are designed to better protect consumers from hackers.
“It has all of our card holder information on that microchip but it encrypts all of the information so it gives us more security than just the traditional magnetic stripe cards,” said a CPI representative.
Since the massive Target security breach crews at the Littleton plant have been working nonstop to produce the specially cards.
The cards are already used throughout Europe but are still considered too expensive to be immediately practical in the United States.
“For the banks issuing the cards, they have to upgrade the systems to be able to accommodate chip transactions and accommodate the encrypted data. They also have to issue the chip cards for the retailers and they have to replace all of the point of sale terminals,” said A CPI representative.
However the card is likely to be an option domestically in the next 2 years and security experts hope that they will become common place in the U.S.
“Right now there are no instances of someone breaking that clip and being able to pull the information off the chip,” said a CPI representative.